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Innovation of China Merchants Bank road

  Peter Drucker once said, the core function is the management of the knowledge economy society, only managing to make the Organization effective. RADIUS determines the success or failure of the development of the management of, a sense of competition among enterprises is managed competition. China Merchants Bank has a profound experience in development, that is constantly based on Chinese reality, exploring Chinese-style management.

Shenzhen's friends know, in Shekou, China Merchants Bank 23 years ago was born, there were only 100 million Yuan capital, 3 rooms, 34 persons. After 23 years of continuous efforts, coordinated development of efficiency, quality, scale, and today has become the 6th largest bank in China, one of the world's 100 largest banks. I 23 investment banking experience summed up in six words: strategy, management, culture.

"earlier, faster, better"

strategy is what? Enterprises need to stand on a higher level, further planning for the future. As a financial enterprise, I think I do not know the future, not to present; I do not know the world, impossible to understand Chinese; not know macro, micro cannot be processed. China Merchants Bank's strategy is to what? Sooner or a little faster, a little better.

as a company, you must first research customer needs. Chinese banks are competing with quality, we do the same thing, it's hard to win on an issue. So, if you want to go ahead of others, must be three or five years earlier than other people something, and this is our experience.

China Merchants Bank for five consecutive years by the Asian Banker named best retail bank in China. Our website is now 750, initially they more than more than 100 retail outlets, what makes the best retail bank in China? I think this is the strategic account question, called "the worm back into the Bush."

with China's big banks, China Merchants Bank is a little brother, and Citibank, HSBC, more than century-old shop, we were Juniors, the issue insurmountable – but at the end of the Internet revolution has given us a very good opportunity. In the face of the Internet, both old and new, all at the same time started, can not only shorten the gap, but also beyond.

history shows that Bank has two functions, one is social financing intermediaries, a platform for social payments. Whether the intermediary or the platform using communication and Bank of IT,IT every revolution brings changes. China Merchants Bank sees it, is pushing the Bank of IT.

at China Merchants Bank in China first launched the USW national "smart card", which is the personal banking initial product in China. Now we have more than 50 million card, deposit nearly 10,000 yuan each, and other balances of bank card 3 times. Only this one, China Merchants Bank savings deposits rose 40%, low cost and stable. Fewer outlets, we build the "CNC" online replacement rate of nearly 80%.

at that time, a cartoon and a Netcom, China Merchants Bank also received an unexpected bonus, is filtered through our customers, low-end customers not online, our customers are: educated youth, urban white-collar workers, civil servants and wealthy.

retail business that has developed. Of course, constant innovation, from a cartoon, a Netcom to wealth management, the sunflower banking and credit cards.

special it is worth saying that credit card. 6 years ago, when the Bank began to make credit card, some internationally renowned consultancy report, said China's credit cards do not make money. But we think that the Chinese consumer orientation will not leave the global trends, so we look to do the work.

Citi first wanted to work with me, but I refused. We chose the Taiwan partner, do not share, but my Advisor. For 13 months, we launched China's first universal credit card. 56, China Merchants Bank became one of the nation's largest card issuers.

we have recently done something very right thing. We know Visa and China UnionPay wars, our UnionPay cards are Visa and MasterCard, and American Express, no matter how they conflict, with China Merchants Bank cards are recognized.

in the past more than 20 years, China Merchants Bank strategy is a three-step: networking, marketization and internationalization of capital, called "three-step two". Just networking. Aspects of the capital markets, our capital markets started four times earlier, created a lot of the first, is not passive. Transformation is structural adjustment for the first time, China's banks are doing wholesale business at the time, are tied to large margin income. At that time we decided to develop small and medium enterprises, SMEs accounted for 50% of all the Bank's assets; the development of retail business, retail 30%; development of non-interest income. After 5 years of hard work, we completed the first round of restructuring, is now a second transition: managing change, save capital. Bank capital is precious, and achieve higher returns with less capital consumption, it also encourages us to do more small and medium enterprises. So, I think that as a business, be sure to stand tall, to see far.

give up when appropriate

internationalization of China Merchants Bank is still going on. After 5 years of trying, China Merchants Bank became the first into the United States market of China's financial institutions, and on Wall Street the cold days of winter, our branch opened. New York mayor says, China Merchants Bank was in the winter breeze.

on international issues we have three times rejected. Rejected Citigroup shares for the first time, and our co-branded cards. Then banker in Citi's Chief Executive is my heart's great, but I was refused. Vice President of Citigroup last year a visit and ask me what is the successful experience of China Merchants Bank credit card? I, frankly, most successful experiences is not in cooperation with Citigroup, if we 50%, I couldn't have put all resources, relationship disharmony, there would be no today's harvest.

second refused, at first private bank in China is a dream, we turned to Switzerland banks such as credit, but they don't want to cooperate with us. Never thought after a year of financial crisis, do we revolt themselves. Our private banking only two years, has 12,000 private banking clients of more than 10 million Yuan, and two years in a row was named the best private bank in China of the European currency. Recently published ranking of the European currency, in private banking in Asia, China Merchants Bank ranked 5th, top 4 are top of the world, like the Switzerland international financial institutions such as credit. We achieved the dream, Chinese private banks.

the third refused, we acquired the Wing Lung Bank, rejected a United States Bank. At United Bank hope that we share. We say that UCB is in the United States, Chinese, doing real estate of small banks. We went to United States to Wall Street, can't go to Chinatown, to go to mainstream society, to Fifth Avenue and Park Avenue, step among the upper classes. And Union Bank can give me 10% shares, not holding, the Bank went bankrupt last year. Internationalization must also have vision problems.

problem management is the concept

Second, is to manage. Compared with the West Bank, not in the products and services of Bank of China, the main gap is management. Although the damage is very small in this financial crisis, Bank of China, credit only $ 10 billion. But that is because we do not have to swim in the sea, could not drown, but went to the sea in the future, the ability to learn to swim, and will otherwise be drowned.

our management is a short Board. Management's main problem is that philosophy, problems I think we have to rely on the idea of innovation. As a bank to continue to innovate and develop, we must continue to change ideas, even subversive ideas, which I realize is very deep. Because China's banking sector is coming from the traditional planned economy, we lack experience, so I want to scale of the problem is based on speed, Rob, stuck to a traditional old circle. If you want to develop out of the old circle, so we continue to put forward some new ideas, and put that into the hearts of every employee, such as "because of you". For example, "1, 3, 5" concept, system and culture relationships.

constantly changing ideas, we still have to "ten". Change is that China's banks keep these 10 ideas change minds. Like book profit, past which a branch profit more on sent bonus, but today capital sufficient rate control have is strict, must consider profit is how to of: If is by wholesale business, 100% of capital consumption not we advocate of; if development retail business, 50% of consumption capital; if development SMEs, can floating profit; if can development non-interest income not consumption capital, this is we now pursuit of target. Therefore, cannot simply watch.

for example, risk, control risk in the past, very naïve, and is unable to control the risk of banks is high risk, no risk control, profits are gone, the risk is a double edged sword. A good Bank must be in the risks and benefits of optimum balance between, obtained under certain risk tolerance, be sure to maximize revenues.

culture is a competitive

finally a culture of China Merchants Bank. What is the company's competitiveness? Not a product, not a cartoon, not a credit card, but culture. From the Bank's birth can be seen in our cultural genes: China Merchants Bank without Government, without fiscal injection, no financial help us to shed bad assets, merchants did not introduce strategic investors, China's banking industry one of the few without introduction of Western banks, "national", "independent" Bank. China Merchants Bank China Merchants Bank in the cultural gene of this gave birth to the culture of innovation, we are joint-stock banks, lack of Government's kindness, but the children of the poor early masters, honed growing up in storms of market economy, choked a few words, but you mature, not afraid of competition. This is called a culture of innovation.

innovation is your product better than anyone else, if not better than others, you can't live your service better than others, but others may not come to you, you can't develop. We see ourselves as a sunflower, sunflower to the Sun, the customer is the Sun. When others were very cold, China Merchants Bank has been providing personalized service, in outlets with milk, coffee, we all drink, do business, not business people to drink, drink three times he felt embarrassed, or to do business. This is the Merchants Bank of cultural competition.

risk culture, we have a fiscal transfer bad assets, a penny of bad assets are offset by profits. We care about each of the shareholders, in everyone's interest, so they will consciously guarding against risks. China Merchants Bank 23 years of development, strategy, management and culture contains many Chinese-style management.

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